Leadership transition at India’s largest supermarket chain as Ignatius Noronha steps down in January 2026
Anshul Asawa will assume charge as Chief Executive Officer (CEO) of Avenue Supermarts, the parent company of DMart, from 1 February 2026, marking a planned leadership transition at one of India’s largest supermarket chains. The change follows the conclusion of Managing Director and CEO Ignatius Navil Noronha’s tenure, who will step down at the close of business on 31 January 2026.
The company’s board, acting on the recommendation of the Nomination and Remuneration Committee, has approved Asawa’s appointment as CEO and Key Managerial Personnel with effect from 1 February 2026. Subject to shareholders’ approval, he will also be appointed Managing Director for a three-year term beginning 1 April 2026. Asawa is currently serving as CEO-designate.
The transition is the outcome of a structured succession plan put in place in 2025, when Avenue Supermarts appointed Asawa as CEO-designate with effect from 15 March 2025, allowing for an orderly handover of responsibilities.
Asawa joined DMart in March 2025 after nearly three decades at Unilever. He began his career at the FMCG major in 1995 and held a series of senior leadership roles across sales and marketing in India, including responsibility for some of the company’s leading tea brands. His career later expanded to international and regional roles spanning Western Europe and South Asia.
Over the years, Asawa has served in positions such as general manager for east branch and rural channels, vice president, marketing operations for Unilever South Asia, and held multiple global leadership roles across home care, digital, ecommerce and customer development. In these roles, he led channel transformation initiatives, strengthened emerging channels, and drove portfolio and customer strategies at a global level. He also led Unilever’s home care ecommerce business worldwide and headed the Unilever Professionals business globally.
An alumnus of IIT Roorkee and IIM Lucknow, Asawa brings extensive leadership experience across India, Asia and Europe as he prepares to take over the reins of DMart’s parent company.
Outgoing CEO Ignatius Navil Noronha joined DMart in January 2004 as head of operations after a stint at Hindustan Unilever. He is widely credited with playing a pivotal role in building Avenue Supermarts into a nationwide retail chain, overseeing its rapid expansion while reinforcing its focus on operational efficiency and value-led retailing.
Separately, the company introduced changes to its senior leadership structure, designating four executives as Senior Management Personnel with effect from 1 February 2026. These include Sachin Jaolekar, Vice President – FMCG; Dastgir Shaikh, Vice President – General Merchandising; Shyam Gupta, Head – Apparels; and Rushabh Ghiya, Head – Investor Relations and Chief of Staff.
On the financial front, Avenue Supermarts reported a strong performance in the third quarter. Net profit rose 17 per cent year-on-year to Rs 856 crore, while revenue increased 13.3 per cent to Rs 18,101 crore. Ebitda grew 20.2 per cent to Rs 1,463 crore, with margins improving to 8.1 per cent from 7.7 per cent in the same quarter last year.
